China metal repo business included in Deutsche Bank commodity cuts
Former commodity heavyweight has also closed its successful metals financing business as part of global restructuring
Deutsche Bank’s Asia commodities business has been hit as hard as its US and Europe units by global commodities cuts announced in December, with even the physical metal repo business centred on China being dismantled, according to market sources.
In early December, the bank shocked the market with a surprise announcement that it would cease trading in energy, agriculture, base metals, coal and iron ore and keep only precious metals and some financial derivatives trading, which would become part
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